PsiQuantum announced a partnership with the State of Illinois, Cook County, and the City of Chicago to build a US-based utility-scale, fault-tolerant quantum computer at the former US Steel South Works site in Chicago. This project will anchor the newly established Illinois Quantum and Microelectronics Park (IQMP), enhancing the state’s quantum ecosystem, including UIUC, the University of Chicago, Argonne and Fermi national labs, and DARPA.
Groundbreaking for the site is expected to happen in 2025 with several years of construction to follow. PsiQuantum already has plans on installing a large quantum computer in Brisbane, Australia and that machine is not expected to be operational until the end of 2027. The machine in Chicago will be operational sometime after that. The Chicago processor will be very similar to the Brisbane one, but there will be differences in the cryoplant because the one in Chicago is intended to be a shared resource that will be available for other companies besides PsiQuantum.
The Illinois fiscal year 2025 state budget allocates $500M for developing the Quantum Park, with $200M dedicated to building a Cryogenic Plant. PsiQuantum, as the anchor tenant, will establish a Quantum Computer Operations Center covering over 300,000 square feet, supported by over $500M in combined incentives over a 30 year period from the state of Illinois, Cook County, and the city of Chicago. PsiQuantum’s total incentive package from the State of Illinois, which includes Manufacturing Illinois Chips for Real Opportunity Act (MICRO), capital grants, workforce development assistance, a low interest loan and other incentives, is valued at $200 million. The MICRO agreement specifies a minimum company investment of $1.09 billion and the creation of at least 154 full-time jobs. A link to the full MICRO agreement can be found here.
PsiQuantum’s utility-scale quantum computer aims to provide precise solutions for computational problems beyond conventional computers’ capabilities, significantly benefiting Illinois’ industries, including agriculture, pharmaceuticals, energy, materials, financial services, and manufacturing. Governor J.B. Pritzker and Mayor Brandon Johnson emphasized the project’s role in positioning Illinois and Chicago as global leaders in quantum computing, creating numerous jobs, and driving economic growth.
PsiQuantum will collaborate with UIUC, the University of Chicago, University of Illinois Chicago, and Northwestern University on research and educational programs. PsiQuantum’s operations in Chicago will create at least 150 jobs in the next five years, contributing to a robust quantum workforce.
For additional information, you can access the press release the company has provided here. and another press release from the office of Illinois governor J.D. Pritzker here.
July 25, 2024. Updated July 31, 2024.
